The instrument spent the day in a consolidation. However, the price had a sharp drop in the American session. Sellers pushed the price from the resistance 49.50 to the support 48.50.
The overall outlook remains bearish, for a drop towards 47.50 support area.
The pair remained in red figures on Tuesday’s trades. Sellers were able to drive the price lower. The XAU/USD decreased from the 1325 mark towards 1309.
A move below the 1308 support would suggest a resumption of a bearish trend. A growth above 1325 will weaken sellers' positions and will strengthen buyer's ones.
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